• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Examination of Global Anti-Money Laundering (AML) System Underway

Examination of Global Anti-Money Laundering (AML) System Underway

04/30/2024
Chief Procurement Officer (CPO) Summit 2025

CPO Summit 2025 Set for California

09/09/2025
Unique Freight Logistics Nominated for Go Global Awards 2025 in London

Unique Freight Logistics Nominated for Go Global Awards 2025 in London

09/09/2025
Model Rice Mills Nominated for Go Global Awards 2025 in London

Model Rice Mills Nominated for Go Global Awards 2025 in London

09/09/2025
Evolve Future Mobility Show 2025

Revolutionize the Future of Transport at the Evolve Future Mobility Show 2025!

09/09/2025
Shipping & Procurement Consultants Group (Inc.) Limited Nominated for Go Global Awards 2025 in London

Shipping & Procurement Consultants Group (Inc.) Limited Nominated for Go Global Awards 2025 in London

09/09/2025
Prognica Labs Nominated for Go Global Awards 2025 in London

Prognica Labs Nominated for Go Global Awards 2025 in London

09/08/2025
Evegrocer Nominated for Go Global Awards 2025 in London

Evegrocer Nominated for Go Global Awards 2025 in London

09/08/2025
Cuesoft Inc. Nominated for Go Global Awards 2025 in London

Cuesoft Inc. Nominated for Go Global Awards 2025 in London

09/08/2025
Hachiko Efficiency Services Nominated for Go Global Awards 2025

Hachiko Efficiency Services Strengthens Environmental and Hazardous Materials Management Across the Pacific

09/06/2025
Mechanic inspecting car engine with digital tablet - Supply Chain News

U.S. Finalizes Trade Deal with Japan, Sets 15% Tariffs on Key Imports

09/05/2025
Container ship at a busy port, undergoing loading and unloading operations. - Supply Chain News

What’s Next for Trump’s Tariff Strategy?

09/05/2025
Industries in India Face Pressure as US Imposes 50% Tariffs

Industries in India Face Pressure as US Imposes 50% Tariffs

09/05/2025
supplychainreport
Tuesday, September 9, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Examination of Global Anti-Money Laundering (AML) System Underway

by Daisy D.
04/30/2024
in Anti-Money Laundering (AML), Compliance

In recent discussions surrounding anti-money laundering (AML) measures, concerns have arisen regarding the adequacy of the existing framework amidst evolving financial landscapes. Alexandre Pinot, co-founder and head of innovation and strategy at AMLYZE, a Vilnius-based AML/CFT compliance firm, delves into the ongoing discourse regarding the system’s efficacy.

Reflecting on the current state of AML protocols, questions have emerged regarding their adaptability to contemporary financial ecosystems. Pinot highlights a notable stagnation in regulatory evolution over the past two decades, potentially enabling fraudulent activities to exploit systemic vulnerabilities.

YOU MAY ALSO LIKE

RightVantage Exim Launches Free Tariff Analysis Tool

Maprima Management BV: Driving Corporate Services Excellence Across the Benelux

The central inquiry revolves around the effectiveness of the global AML system in addressing emergent challenges. Pinot analogizes this stagnation to maintaining outdated IT security practices, emphasizing the need for modernization in line with technological advancements and shifting financial paradigms.

Pinot notes that while foundational AML laws have been in place for approximately half a century, significant regulatory frameworks largely stem from legislative responses to historical events such as the USA PATRIOT Act of 2001. Despite subsequent global initiatives and establishment of oversight bodies like the Financial Action Task Force (FATF) and the recent inception of the EU’s Anti-Money Laundering Authority (AMLA), Pinot asserts that systemic gaps persist.

One critical issue pertains to the interpretation of ‘suspicious’ activities, which lacks standardized definitions across jurisdictions, leading to subjective assessments by financial institutions. Pinot advocates for clear and objective typologies to streamline reporting processes and enhance detection capabilities.

Challenges extend beyond regulatory frameworks to technological limitations and data governance. While advancements in AML technology show promise, complexities in translating contextual typologies into machine-readable data and evolving data protection trends hinder progress.

Pinot highlights emerging solutions such as synthetic data and privacy-enhancing technologies as potential remedies to these challenges, offering avenues for improved collaboration and proactive risk mitigation strategies.

In conclusion, Pinot emphasizes the imperative for innovation, collaboration, and proactive measures to address shortcomings within the current AML landscape. He underscores the role of cities like Vilnius, with burgeoning fintech sectors and a dedication to combat financial crime, in driving future advancements. While acknowledging existing deficiencies, Pinot remains optimistic about the potential for technological innovation and collective efforts to revitalize the AML framework.

Find the best supply chain news at The Supply Chain Report. Free international trade tools are available at ADAMftd.com.

#GlobalAMLReview#AMLRegulatoryAnalysis#MoneyLaunderingInspection#AMLComplianceCheck#AntiMoneyLaunderingAudit#SupplyChainNews

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.